Market Research Future (MRFR) postulates that the global IoT for public safety market is slated to register 15.60%, with a valuation of USD 2010.44 million, during the forecast period (2018-2023). The spike noticed in the criminal activities is estimated to favor the market growth over the years. A vast assortment of the internet of things (IoT) technologies has penetrated into enterprises and consumer markets in the past few years. End users have been leveraging the potential in the connected devices in order to achieve several objectives across the world. Government and regulatory bodies across the world tasked with ensuring public safety are influencing the use of IoT devices. Such technologies help them to utilize situational, environmental, and contextual awareness data from smart connected devices in order to achieve optimal cost reduction and meet operational requirements.
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Market Potential and Pitfalls
The market’s growth is chiefly directed by the advent of the internet of things (IoT) as a viable option to protect public interests. The sturdy growth rate in criminal activities is estimated to surge the demand for tougher security measurements, which can be achieved through IoT. The forthcoming threats regarding public safety amid growing incidences of vandalism and terrorism is anticipated to trigger the demand for IoT for public safety market across the globe. Governments across the world are making efforts to create smart city projects in order to safeguard the lives of the citizens. This is considered to benefit the market growth to a large extent. Moreover, with the implementation of artificial intelligence and machine learning in government departments in order to accumulate intel faster is predicted to contribute to the market growth throughout the appraisal period. The growing reliance on unmanned operations has further fueled its growth.
On the contrary, IoT for public safety market can find difficulties in reaching a wide spectrum for a better adoption rate. High initial cost for implementing such technologies is assumed to strain the profit margins for the developers and restrain them from adopting such technologies. Such concerns are considered as top barriers vitiating the market growth to a large extent.
The prominent players operating in the global IoT for public safety market comprises West Corporation (U.S.), Tibbo Systems (Taiwan), Yardarm Technologies (U.S.), NEC (Japan), Microsoft Corporation (U.S.), Star Controls (U.S.), Sierra Wireless (Canada), Telit (U.K.), Cisco Systems (U.S.), IBM (U.S.), X-Systems (The Netherlands), Intellivision (U.S.), Hitachi Vantara (U.S.), Nokia Networks (Finland), Iskratel (Slovenia), and others.
The global IoT For Public Safety Market has been segmented on the basis of application, component, and vertical.
By mode of component, the global IoT for public safety market has been segmented into solution, platform, and services. Among these, the solution segment is anticipated to expand at the fastest rate, whereas the services segment is likely to dominate.
By mode of application, the global IoT for public safety market has been segmented into surveillance & security, disaster management, emergency communication, critical infrastructure security, and incident management. Among these, disaster management is considered to record the fastest growth rate, while surveillance & security segment is estimated to lead the segment.
By mode of verticals, the global IoT for public safety market has been segmented into smart utilities, smart manufacturing, smart building & home automation, smart transportation, homeland security, smart healthcare, and others. Among these, homeland security is predicted to dominate the segment in terms of revenue. On the other hand, smart building & home automation is estimated to register the fastest CAGR.
Geographically, the IoT for public safety market span across regions namely, Europe, North America, Asia Pacific, and Rest-of-the-World (RoW).
Among all the regions, the North American region is considered to occupy a significant share and is likely to perform remarkably well in the sector. With superlative technologies, the market in this region is estimated to flourish. Excellent economic condition attracts several industries towards the market which is anticipated to trigger its demand in this region. Moreover, a majority of service providers offering IoT for public safety are from this region, which further benefits the market growth.
Europe closely follows North America and share the same growth factors as that of North America. The market in this region is also propelled by the development of smart cities which accentuates the regional market prospects.
The Asia Pacific, on the other hand, is likely to experience an astounding growth rate owing to the presence of nations such as China and India. These developing nations are extensively adopting smart technologies in order to safeguard individual life and protect properties. Such factors are predicted to contribute to market growth for IoT for public safety.
February 22, 2019: Multiple Access Communications Limited and Capita Secure Solutions and Services (Capita) are planning to combine MAC Ltd’s IoT and Capita’s ControlWorks public safety solution expertise in order to introduce new solutions to the public safety community. This comprises remote monitoring of automated external defibrillators.
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TABLE OF CONTENT
1 Executive Summary
2 Market Introduction
2.2 Scope Of The Study
2.3 List Of Assumptions
2.4 Market Structure
2.5 Key Takeaways
3 Market Insights
4 Research Methodology
4.1 Research Process
4.2 Primary Research
4.3 Secondary Research
4.4 Market Size Estimation
4.5 Forecast Model
5 Market Dynamics
LIST OF TABLES
Table1 Global IoT For Public Safety Market, By Country, 2018-2023
Table2 North America: IoT For Public Safety Market, By Country, 2018–2023
Table3 Europe: IoT For Public Safety Market, By Country, 2018–2023
Table4 Asia-Pacific: IoT For Public Safety Market, By Country, 2018–2023
Table5 Latin America: IoT For Public Safety Market, By Country, 2018–2023
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LIST OF FIGURES
Figure 1 Global IoT For Public Safety Market Segmentation
Figure 2 Forecast Methodology
Figure 3 Porter’s Five Forces Analysis Of Global IoT For Public Safety Market
Figure 4 Value Chain Of Global IoT For Public Safety Market
Figure 5 Share Of IoT For Public Safety Market In 2018, By Country (In %)
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